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Skip to contentFor as long as coins have been issued as a method of trading, they have been collected. Sometime during the Middle Ages, coin collecting started to become a hobby, based primarily on the art and history that could be represented by the coins. Your Michigan coin dealer can help you learn more about the history of coin collecting and help you learn how to buy and sell coins for the best results.
Today, coin collecting is an extremely popular hobby. Gold coins are one of the most popular types of coins collected, usually because of their beauty and value. There are gold coins in the world that have been purchased for approximately $8 million. The most expensive gold coin ever purchased was a 1933 American Gold Eagle. Coins such as these give this hobby the nickname, “The Hobby of Kings.”
Gold was the oldest form of currency, next came silver coins. Gold coins only circulated in the United States between 1838-1933, with the design being the Liberty Head (until 1907). After that, there was an Indian Head design and the St. Gaudens style coins, which were minted until the Great Depression began in 1933. At that point, all gold coins were recalled and they are difficult to obtain today, making them very valuable.
The price of gold coins is very high because of their rarity. Gold is now primarily used for jewelry, not coins, but still makes for an excellent investment because it is generally expected to retain its value.
The Krugerrand is a South African coin that was first minted in 1967. While there is no face value for the Krugerrand, it contains a full ounce of gold and is an excellent investment.
Many other countries have minted gold coins, including Canada (Maple Leaf, 1979) and Australia (Nugget, 1981). Their purity, at 24 carats, makes them very popular for collectors and investors alike.
Investing in gold is popular because many other types of investments have too much variation in their value and are less likely to increase. Many investors feel that gold is a smart investment because, in the event of a serious financial depression, gold will hold its value better than other investments.
Contact your Michigan coin dealer for more information about collecting gold coins or if you are interested in learning how to buy and sell coins.
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